(a) Lessee shall be in default under this Lease and each of the other Documents (as that term
is defined in Section 16 below) upon the occurrence of any of the following “Events of Default”:
(i) Lessee breaches its obligation to pay Rent or any other sum when due and fails to cure the
breach within ten (10) days of written invoice from Lessor; (ii) Lessee breaches any of its
insurance obligations under Section 10; (iii) Lessee breaches any of its other obligations in any
material respect and fails to cure that breach within thirty (30) days after written notice from
Lessor to Lessee; (iv) any representation or warranty made by Lessee in connection with this Lease
or Bill of Sale, or Guarantor in connection with the Guaranty agreement shall be false or
misleading in any material respect; (v) Lessee or Guarantor or other obligor for any of the
obligations hereunder (collectively “**Guarantor**”), dissolves, terminates its existence, becomes
insolvent or ceases to do business as a going concern; (vi) the Aircraft or any other property of
Lessee is illegally used, confiscated, sequestered, seized or levied upon; (vii) a receiver is
appointed for all or of any part of the property of Lessee or any Guarantor, or Lessee or any
Guarantor makes any assignment for the benefit of creditors; (viii) a petition is filed by or
against Lessee or any Guarantor under any bankruptcy, insolvency or similar laws and in the event
of an involuntary petition, the petition is not dismissed within sixty (60) days of the filing
date; (ix) the occurrence of any “Event of Default” under any Aircraft Lease Agreement dated as of